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this post was submitted on 14 Mar 2024
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Enough Musk Spam
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Once Elon steps down from Tesla, the stocks will go up again.
Nope. Tesla had been extremely overvalued (think in the range of a factor of 10) and continues to be much more "worth" than it's real value. It has a new product that gave it an edge. Other car manufacturers that are factors bigger than Tesla have caught on and are surpassing it quickly. The way I see it, Tesla is dead soon
For anyone wondering, Teslas market cap is roughly $500 billion and Ford is ~$50 billion.
There is no way Tesla is worth 10 times what Ford is.
Ford's total revenue last year was $176 billion and Tesla's was $96 billion.
Also, Ford makes a butt load more models and units than Tesla. Tesla has, what, 4 models? Teslas stock price is ridiculous
The number of models is irrelevant, sales are what matter.
I'd say it is. Making a new model car requires a lot of investments, setting up supply chains and what not. Ford has done a shit tonne of that AND sold factors more cars than tesla. It may not be the main point of critique, but it definitely counts
The only reason why tesla is this high is because of the lies and outright fraud ("funding secured") perpetrated by musk. The lies had fanboys believing it's a battery manufacturing leader, AI company, robotics, and even space company (because of spaceX, even though it's a separate company). However, the "battery manufacturing" is assembling battery cells which are actually made by Panasonic. The "AI" is a terrible self-driving mode which isn't anywhere close to fully self-driving like musk promised long ago. The robotics is straight-up vaporware, even more than most musk lies.
So what you're left with is a regular EV company which has now been beaten by BYD in terms of number of EVs sold and BYD is poised to expand much more than tesla. This regular EV company that is getting outcompeted and shows unpromising growth is somehow valued more than multiple top automotive companies combined still. This trash has a long way to fall and I wouldn't be surprised if it gets kicked out of the S&P 500 which would make it fall even harder.
I doubt it. I suspect a lot of their value is in the hype and perceived value Elon himself brings. I think investors buy his "I'm an engineer" bullshit.
There is def hype. But which American company has the infrastructure to actually compete with EV cars right now? Sure their cars are garbage and downright terrible right now. But so was Toyota when they first was introduced.
Investors are banking on the long term which is their battery production and battery tech.